In a First, Saudi Arabia Holds Fashion Show on Red Sea Shores

Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.
Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.
TT

In a First, Saudi Arabia Holds Fashion Show on Red Sea Shores

Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.
Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.

In April 2018, Riyadh held the first fashion week in Saudi Arabia. Needless to say, the event captured the world’s attention because it had broken the western perception of Saudi women as simple consumers of their products.

At the time, however, the event was a challenge for Saudi women to portray themselves in a different light and indeed they did. They achieved their dreams by showcasing their potential and talent on a global scale.

Even though the event was limited to women and photographs were barred from being posted on social media to preserve the privacy of attendees, it did garner the attention of international media.

Two years later, the Saudi appetite for fashion has not abated, but has grown even stronger and more confidence has been shown in local products. The coming generation believes that locally produced fashion is no less beautiful or elegant than global designs. All they need is a platform or an opportunity to prove it.

The opportunity presented itself just days ago on the shores of Ras al-Abyad island that witnessed the first ever fashion show on the Red Sea coast with 300 guests in attendance.

The event was even more remarkable for being held amid the novel coronavirus pandemic and as the global fashion industry grapples with many challenges.

Mariam Moussalli, founding partner of Niche Arabia, the organizer of the event, said the pandemic did not slow her down, but made her and others even more determined to prove themselves.

She said the crisis paved the way for the opportunity for holding a global event with the efforts of strictly Saudi team.

“All the models, designers, make up artists, photographers and directors come from Saudi Arabia,” she said proudly.

Everyone was excited to take part in the event, seeing it as a challenge to break the West’s stereotypical image of Saudi Arabia, she continued. “It was therefore important for me to have every detail of the event come to life with Saudi efforts, starting with 16 models and everyone working behind the scenes.”

The fashion was inspired from travel, said Moussalli, who described the designs as more of a “cruise” line.

Designer Samah Khashoggi, of Samah Abayas, presented 22 creations inspired by the shores of Jeddah and Yanbu. She said she sought to take traditional Hijaz techniques and merge them with modern motifs.

“It was important for the line to act as a love letter to the Red Sea with all of its mystery and charm,” she added, as reflected in her designs that boasted blue, turquoise and white and coral motifs.



Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
TT

Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)

Birkenstock beat market expectations for fourth-quarter results on robust demand for its pricey footwear and forecast a recovery in margins in fiscal 2025, sending the company's shares up 7% on Wednesday.

With fresh styles becoming a priority for consumers, Birkenstock's sandals and closed-toe clogs have drawn new customers both at its own stores and at retailers.

The company bypassed steep discounting trends evident during the holiday shopping season, which Birkenstock executives said was off to a strong start globally.

"The expansion of ranges into more closed-toe silhouette has helped boost revenue, given that they offer multi-season wear," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said.

Germany-based Birkenstock's average selling prices across its product range were up 8% in fiscal 2024, in part due to higher sales of clogs, the company said, adding that closed-toe styles now made up about a third of its business.

The company has invested in expanding its global store presence and increasing manufacturing capacity this year to meet demand.

While it led to a 330-basis point drop in gross margins in fiscal 2024, Birkenstock forecast a recovery in margins in fiscal 2025 as it ramps up production from new facilities.

The company reported fourth-quarter revenue of 455.8 million euros ($478.27 million), compared with the average analyst estimate of 439.2 million euros, according to data compiled by LSEG.

However, Birkenstock's forecast for fiscal 2025 revenue to increase between 15% and 17% was below estimates of 17.5% growth.

"It would appear with this incredibly healthy growth, the company is choosing to adopt a conservative approach that they expect to be able to meet and beat," BMO Capital Markets analyst Simeon Siegel said.

On an adjusted basis, Birkenstock earned 0.29 euro per share, beating estimates of 0.26 euro.